Turney's resignation comes after a strong fourth quarter for Victoria's Secret. Last week, the company reported more than $2 billion in sales during the fourth quarter -- a 7% increase.

These sales were instrumental in helping its parent company, L Brands(LB), achieve record sales.

In Turney's stead, L Brands CEO and Chairman Leslie Wexner will take over.

"We are very grateful to Sharen for her leadership and all that she has accomplished; Victoria's Secret sales have increased more than 70 percent to $7.7 billion and profit has increased substantially during her nine years as CEO. While she will be missed, we support her in her choice and wish her well," said Wexner.